Everspin Technologies Inc. Announces Annual Meeting of Stockholders on May 23, 2024

TL;DR

<b>Everspin Technologies will hold its virtual annual meeting on May 23, 2024, to elect directors, ratify auditors, and vote on executive compensation.</b>

AI Summary

EVERSPIN TECHNOLOGIES INC (MRAM) filed a Proxy Statement (DEF 14A) with the SEC on April 12, 2024. The annual meeting of Everspin Technologies, Inc. stockholders will be held virtually on May 23, 2024, at 5:00 p.m. EDT. Key agenda items include the election of seven director nominees, ratification of Ernst & Young LLP as independent auditors for FY2024, and an advisory vote on executive compensation. The record date for determining stockholders eligible to vote was March 26, 2024. Stockholders must use a 16-digit control number from their proxy card or voting instruction form to access the virtual meeting. The company is filing a Definitive Proxy Statement (DEF 14A) on April 12, 2024.

Why It Matters

For investors and stakeholders tracking EVERSPIN TECHNOLOGIES INC, this filing contains several important signals. This filing is a routine DEF 14A, indicating the company is preparing for its annual shareholder meeting where key governance decisions are made. The virtual format and specific access instructions highlight the company's efforts to ensure shareholder participation in corporate governance.

Risk Assessment

Risk Level: low — EVERSPIN TECHNOLOGIES INC shows low risk based on this filing. The filing is a routine proxy statement (DEF 14A) and does not contain new financial or operational information that would indicate significant risk changes.

Analyst Insight

Review the director nominees and executive compensation proposals to understand the company's governance direction.

Key Numbers

• 7 — Director Nominees (To be elected at the annual meeting)
• 2024 — Fiscal Year End (For which Ernst & Young LLP is being ratified as auditor)

Key Players & Entities

• EVERSPIN TECHNOLOGIES INC (company) — Registrant name
• Ernst & Young LLP (company) — Independent registered public accounting firm
• May 23, 2024 (date) — Date of annual meeting
• March 26, 2024 (date) — Record date for annual meeting
• MRAM (company) — Ticker symbol

FAQ

Industry Context

Everspin Technologies operates in the semiconductor industry, specifically focusing on MRAM (Magnetoresistive Random-Access Memory) technology.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

What Investors Should Do

1. Review the list of director nominees and their qualifications.
2. Examine the details of the executive compensation plan.
3. Understand the voting procedures for the virtual annual meeting.

Key Dates

• 2024-05-23: Annual Meeting of Stockholders — Election of directors, ratification of auditors, advisory vote on executive compensation.
• 2024-03-26: Record Date — Determines eligibility to vote at the annual meeting.
• 2024-04-12: Filing Date — Date the DEF 14A proxy statement was filed.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard proxy statement for an upcoming annual meeting and does not represent a change from previous filings in terms of financial or operational performance.

Key Financial Figures

• $7,000 — lf. We have agreed to pay approximately $7,000, plus reasonable and approved out-of-po

Filing Documents

• tm242642-1_def14a.htm (DEF 14A) — 632KB
• bc_netincome-4c.jpg (GRAPHIC) — 54KB
• bc_tsr-4c.jpg (GRAPHIC) — 54KB
• px_24everspinproxy1pg01-bw.jpg (GRAPHIC) — 227KB
• px_24everspinproxy1pg02-bw.jpg (GRAPHIC) — 167KB
• 0001104659-24-046790.txt (&nbsp;) — 1258KB

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 25

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 36 DELINQUENT SECTION 16(A) REPORTS 38 SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS 39 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 40 CERTAIN MATTERS RELATING TO PROXY MATERIALS AND AVAILABLE INFORMATION 41 OTHER MATTERS 41 i TABLE OF CONTENTS EVERSPIN TECHNOLOGIES, INC. PROXY STATEMENT FOR ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 23, 2024 GENERAL INFORMATION We have sent you these proxy materials because our board of directors (the "Board of Directors" or "Board") is soliciting your proxy to vote at the 2024 Annual Meeting of Stockholders of Everspin Technologies, Inc. (the "Company" or "Everspin"), including at any adjournments or postponements of the meeting. The annual meeting will be held on Thursday, May 23, 2024, at 5:00 p.m., Eastern Daylight Time. We will be hosting the annual meeting via live webcast on the Internet. To attend the annual meeting virtually, log in at www.virtualshareholdermeeting.com/MRAM2024 . QUESTIONS AND ANSWERS ABOUT THESE PROXY MATERIALS AND VOTING Why am I receiving these materials? Our Board of Directors has made these materials available to you on the Internet and has delivered printed proxy materials to you, in connection with our Board of Directors' solicitation of proxies for use at the annual meeting. As a stockholder, you are invited to attend the annual meeting virtually and to vote online or by proxy on the proposals described in this proxy statement. However, you do not need to attend the meeting to vote your shares. Instead, you may vote by proxy on the Internet, via toll-free telephone number or you may sign, date and mail the enclosed proxy card in the envelope provided. We intend to first mail these proxy materials on or about April 12, 2024 to all stockholders of record entitled to vote at the annual meeting. How do I attend the annual meeting? The annual meeting will

: Gender Identity

Part I: Gender Identity Directors 1 6

: Demographic Background

Part II: Demographic Background Asian — 1 White 1 5 Nominees Darin G. Billerbeck has served as a member of our Board of Directors since August 2018 and has served as Chairman of the Board from March 2019, including as Executive Chairman of the Board from December 2020 until November 2022. From January 2021 until March 2022, Mr. Billerbeck also served as our Interim Chief Executive Officer. Mr. Billerbeck is also a member of the Board of Directors of Precision Medical Products. Mr. Billerbeck was CEO of Lattice Semiconductor, a developer of semiconductor technologies, for more than seven years, until his retirement in 2018. During his tenure with Lattice, he steadily increased shareholder value, while expanding the technology, products and the intellectual property of the company. In addition, he gained intimate knowledge of U.S. and China intellectual property laws specifically with respect to the Committee of Foreign Investment in the US (CFIUS). Prior to joining Lattice, 7 TABLE OF CONTENTS Mr. Billerbeck served as the President and CEO of Zilog, which was acquired by IXYS Corporation in 2010. Before joining Zilog, Mr. Billerbeck served for more than 18 years at Intel in various executive and management positions, including Vice President and General Manager of the Flash Products Group. Mr. Billerbeck has also led several key engineering functions in the memory space, including Director of Design Engineering, Director of Packaging and Director of Operations. Mr. Billerbeck received his Bachelor of Science degree in mechanical engineering from the University of California at Davis. Mr. Billerbeck brings highly relevant experience to our Board of Directors spanning microcontrollers, programmable logic and memory technologies along with that of a public semiconductor company CEO. The Board believes that Mr. Billerbeck's rich experience in memory, component and intellectual property will be a key resource as we grow the mainstream adoption of our

View Full Filing

View this DEF 14A filing on SEC EDGAR